15th Sep 2015 | News

3 Hare Court door tenant, Matthew Happold successfully appears in the EU General Court to represent Iranian Aluminium Co. (Iralco).

 Background to the dispute

1. The present case has been brought against the background of the restrictive measures introduced in order to apply pressure on the Islamic Republic of Iran to end proliferation-sensitive nuclear activities and the development of nuclear weapon delivery systems.

2. The applicant, Iranian Aluminium Co. (Iralco), is a private company, quoted on the Tehran Stock Exchange (Iran). It employs approximately 4 000 Iranian nationals. Iralco manufactures aluminium products, including ingots, billets and casting alloys used in vehicles, home appliances, packaging and cables, and sells them through the Iran Products Exchange.

3. On 26 July 2010, the Council of the European Union adopted Decision 2010/413/CFSP concerning restrictive measures against Iran and repealing Common Position 2007/140/CFSP (OJ 2010 L 195, p. 39).

4. Decision 2010/413 confers on the Council:

– in Article 20(1)(a), the power to freeze the assets of persons and entities designated by the United Nations Security Council;

– in Article 20(1)(b), the power to freeze the assets of persons and entities ‘that are engaged in, directly associated with, or providing support for, Iran’s proliferation-sensitive nuclear activities or for the development of nuclear weapon delivery systems, including through the involvement in procurement of the prohibited items, goods, equipment, materials and technology, … or … entities that have evaded or violated, or assisted designated persons or entities in evading or violating, the provisions of UNSCR 1737 (2006), UNSCR 1747 (2007), UNSCR 1803 (2008) and UNSCR 1929 (2010) or [the provisions of the decision itself] as well as other members and entities of IRGC [the Iranian Revolutionary Guards Corps] and IRISL [the Islamic Republic of Iran Shipping Lines] and entities owned or controlled by them or … acting on their behalf or … providing insurance or other essential services …, as listed in Annex II’;

– in Article 20(1)(c), the power to freeze the assets of persons and entities that ‘provide support to the Government of Iran and entities owned or controlled by them or persons and entities associated with them …’.

5. Annex II to Decision 2010/413 lists the persons and entities whose funds and economic resources have been frozen in accordance with Article 20(1) of that decision.

See the judgment here.

For Help or Advice…

Please contact us either by telephone: +44 (0)20 7415 7800 or email: clerks@3harecourt.com




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